Crypto Casinos – A Complete Guide

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It’s estimated that the value of the global online gambling market will exceed €75 billion by 2023, an increase of around €20 billion from 2020. Cryptocurrency is a means of payment that is completely digital and decentralised. There is no tangible currency linked to it, it is not tied to a specific country or region, and there is no bank or institution that can influence it.

Best Crypto Online Casinos

Best Crypto Online Casino Sites

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How Do Crypto Casinos Work?

How Do Crypto Casinos Work?

Crypto casinos are an exciting online gambling trend with huge future potential. They present promising solutions to a multitude of difficulties that casino players in many countries face when attempting to play safely online.

Cryptocurrencies provide an independent payment solution for casino players on a global scale. With no institutions watching over our transactions, we can transact without intermediaries which reduces fees to a minimum. Our transactions are almost completely anonymous.

Crypto Casinos are casinos that support cryptocurrency (crypto) as a method of payment. There are two types of crypto casinos:

  1. Pure Crypto Casinos: these crypto-only online casinos only accept cryptocurrency as a method of payment.
  2. Hybrid Crypto Casinos: casinos that accept cryptocurrency as well as other payment methods such as debit cards, credit cards, wire transfers, e-wallets, and prepaid payments.

Before you can deposit at a crypto casino, you need to have cryptocurrency in your digital wallet. If you don’t have a wallet yet, you can shop around for a wallet that best suits your needs. Popular crypto wallets are Blockchain, Coinjar, and SpareCoins – but there are many others.

Once you have a wallet, you need to purchase some cryptocurrency to keep in it and spend online. The most well-known cryptocurrencies in online gambling circles are Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Tether (USDT), and Dogecoin (DOG). So you’ll want to get a wallet that supports these cryptos. Signing up for most wallets is free and only takes a few seconds.

When you’re ready to deposit at the casino, you can select the cryptocurrency that you want to deposit with. You’ll be given a depositing address, or public key, that you’ll use to complete your crypto deposit at the online casino.

You should keep a copy of the depositing address in a safe place so you can easily refer back to it whenever you need to. However, the casino will supply you with it each time you want to complete a deposit in any case.

To complete your deposit, enter the depositing address and the amount you want to deposit into your crypto wallet account and click the ‘Enter’ or ‘Send’ button. It may take a few minutes for the transaction to be processed and for your casino balance to be topped up.

So you see, the whole process is very similar to using a regular e-wallet to top up your casino account with fiat currency:

  • You need an online wallet where you can keep your cryptocurrency
  • You must have a positive cryptocurrency balance in your wallet before you can deposit at the casino
  • Go to the deposit area of the casino and follow the prompts
  • You complete your deposit by confirming the transaction in your crypto wallet

No deposit bonuses are a rare find at crypto-only casinos. If you do find a no deposit offer at a pure crypto casino, it will usually be in the form of free spins, not cryptocurrency credits.

However, many hybrid crypto casinos support cryptocurrency as a payment method and give away no deposit welcome bonuses to new players. These casinos will add the no deposit bonus to your casino balance as regular currency, not crypto.

There’s a benefit to accepting no deposit free spins at crypto casinos. When you play with free spins before depositing, only the winnings on the free spins are subject to wagering requirements.

If you win €50 while playing with no deposit free spins and the casino has a 35x wagering requirement, you have to play the €50 through the casino 35 times before you can withdraw any winnings.

If you don’t win anything while playing with no deposit free spins, the wagering requirement falls away, which means you can deposit without any wagering requirements attached. No deposit free spins are a great way to test drive different crypto casinos before you deposit.

Crypto Casino Safety Features

Is it Safe to Play at Crypto Casinos?

The fact that cryptocurrencies are decentralised scares some people away from the get-go. There’s no central point that checks or approves your payments. However, it’s exactly this feature that makes crypto casinos so appealing to other players. It also makes crypto casinos very accessible to online gamblers on a global scale.

Here’s some information that will put your mind at ease: all crypto transactions are protected by your own, private key. Playing with crypto is actually more secure than any other payment method. Additionally, licensed crypto casinos encrypt all their payment transactions as well as all your personal data.

Licensed casinos are under the watch of the gambling authorities that issue their licences, regardless of the payment methods they support. Whether you play at a regular online casino, crypto casino, or hybrid casino, as long as it is licensed by a reputable authority, your transactions are safe.

Licensing also ensures the fairness of the games. All the games at licensed casinos are frequently tested by independent third parties, or testing agencies, to confirm that the games are random, fair, and that they payout according to their advertised payout rates.

As we mentioned, the casinos recommended on this site are fully licensed online gambling platforms. If you’re going on your own search for a gambling platform, be sure to play at sites with VALID licences issued by trustworthy authorities such as:

  • The Malta Gaming Authority (MGA)
  • The United Kingdom Gambling Commission (UKGC)
  • The Kahnawake Gaming Commission (KGC)
  • The Alderney Gambling Control Commission (AGCC)
  • The Directorate of Offshore Gaming in Antigua and Barbuda
  • The Gibraltar Regulatory Authority (GRA)

Crypto Casinos Live Games

Pros & Cons of Crypto Casinos

Pros and Cons of Crypto Casinos

There are many characteristics of crypto casinos that make them attractive. When you play with cryptocurrency, your bank account details are not sent to online casinos. You do, however, have to take special precaution to keep your private keys safe.

Crypto casinos are accessible to players around the globe since you don’t have to convert your deposits and withdrawals into different currencies. On the other hand, you do need to have an online wallet and use a crypto exchange to buy and sell your cryptocurrencies. These transactions are usually more affordable than currency conversions.

Unlike bank transfers or payments via debit cards and credit cards, cryptocurrency payments can be processed 24 hours a day, every day of the year. There are no public holidays or special days where the payments system is offline. Crypto payments are also much faster than other payment methods.

As you can see, there are two sides to the crypto coin. The advantages and disadvantages should be considered carefully before you embark on your crypto casino journey. To make things easier, we’ll sum up the pros of crypto casinos here:

Pros

  • No currency exchange
  • Lower fees
  • No time restraints
  • Privacy
  • Security
  • Higher deposit and withdrawal limits
  • Higher game limits
  • Awesome Bonuses

Cons

  • Fewer gambling platforms
  • Additional steps
  • Price fluctuations
  • Exchange fees
  • Bonus exclusions
  • No currency exchange: you can deposit and withdraw with cryptocurrencies without converting your money as you would when playing with regular fiat currencies at online casinos that don’t support your currency.
  • Lower fees: since there aren’t banks and financial institutions facilitating cryptocurrency payments, the transactions are typically cheaper. Most crypto casinos also don’t charge transaction fees.
  • No time restraints: cryptocurrency payments can be completed at any time and are usually processed relatively quickly.
  • Privacy: crypto transactions are anonymous. You don’t have to supply online casinos with your banking details or financial information. Your gambling transactions won’t show up on your bank statements.
  • Security: casino transactions are very secure since crypto wallets are decentralised.
  • Higher deposit and withdrawal limits: many online casinos place stringent limits on the maximum daily, weekly, and monthly deposit and withdrawal amounts. Crypto casinos are known for implementing more flexible limits, which means you’ll likely receive jackpot withdrawals much sooner.
  • Higher game limits: crypto casinos may offer higher limits at the tables and slots than regular casinos. This attracts high roller players.
  • Awesome Bonuses: many crypto casinos offer new and existing players lucrative bonus offers.

The benefits we summarised above might be enough to prompt you to jump on the crypto bandwagon right now. Before you do, consider the following limitations:

  • Fewer gambling platforms: even though cryptocurrency has experienced a surge in approval in recent years, it’s still not a widely accepted means of payment at online casinos. This means you’ll have fewer casinos to choose from.
  • Additional steps: you may need to learn more about using cryptocurrency exchanges, wallets, and processing transactions before you feel comfortable playing at crypto casinos.
  • Price fluctuations: cryptocurrency has a reputation for being volatile. The value of cryptocurrencies changes constantly.
  • Exchange fees: you won’t be subject to currency conversion fees however you will encounter fees when exchanging real money for crypto coins.
  • Bonus exclusions: regular online casinos may specifically exclude players depositing with cryptocurrency from claiming the bonus offers.

There are obvious upsides and downsides when using cryptocurrency as a payment method at online casinos. Since the prospect of winning money is central to gambling, many players may be put off by the exchange fees that come into play when managing cryptocurrency.

It’s worth mentioning that you can reduce exchange fees quite drastically by comparing wallets before you start trading. Some of the more prevalent crypto wallets are free to sign up for and they offer lower fees.

Crypto Casinos Bonus

Crypto Alternatives

Other Similar Services

Crypto casinos occupy a class of their own while, at the same time, not being all that different from regular online casinos.

You can see the similarities by looking at the process involved when playing with cryptocurrency:

  1. Find a crypto casino and sign up for an account
  2. Go to the deposit page
  3. Select the cryptocurrency of your choice
  4. Open your online wallet
  5. Enter the amount you want to deposit and the casino’s wallet address
  6. Click the Send button to complete your transaction
  7. Use your casino balance to play the games

Whether you choose cryptocurrency, e-wallets, or direct transfers as your payment method at online casinos, the process is essentially the same.

Some crypto-only casinos may let you deposit and begin playing immediately without signing up. This service is not exclusive to crypto casinos. There are plenty of instant-play online casinos that support other payment methods, such as Trustly Pay N Play and Zimpler.

At instant-play casinos, you can withdraw your winnings without verifying your account because your account is verified when you deposit. The same is true at crypto casinos. You don’t have to send in your verification documents before you can cash out your winnings because your account is automatically verified when you deposit.

Mobile Crypto Casinos

Crypto Casinos on Mobile Devices

You won’t have trouble finding crypto casinos that are fully compatible with mobile devices – most of the best casinos are. Crypto casinos are fully functional on Android and iOS devices. That includes smartphones and tablets.

Because crypto casinos are new and trendy, you’ll find that many of them have dedicated apps that you can download onto your mobile device. On the apps, you’ll usually find a range of games that are only available to players using cryptocurrency. You’ll find these games on the desktop version of the casino too.

Many casino apps aren’t available in the Google Play Store or the App Store because these stores have various restrictions on real money gambling. If you want to download the app, you can get the download link by visiting the casino in the browser on your mobile device.

You don’t need an app to play at the best crypto casinos. You can play directly in your browser without downloading anything. If you’re using your mobile device right now, click on any of the crypto casinos on this page to launch the casino. You can claim the bonus offers, register, or log in if you already have an account.

 

References:

Size of the online gambling market in 2019 to 2023

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